Searching for WOW

Searching for WOW

50 Women of Wonder franchisors in our October issue

Women are reaching the top tiers of business in ever-increasing numbers. Women are CEOs of General Motors, Pepsico, Kohl’s, and IBM, to name a few Fortune 500 heavyweights. And a 2017 American Express report found 11.6 million womenowned businesses in the U.S. —39 percent of all privately held U.S. firms.

The franchise world sees the same trend, which is why we’ll honor 50 Women of Wonder (WOW) franchisors in our October issue. Consider these statistics: Women are sole owners of about 30 percent of franchises worldwide, according to the International Franchise Association. From 2011-2017, female franchise ownership jumped by 83 percent, with male ownership increasing only 13 percent, according to FranNet, the U.S.-based franchise consulting company. And women are leading more franchises.

Why the uptick? Analysts say women are collaborative, network well, and communicate effectively. They tend to be cautious financially, so franchises are a comfort-zone investment. They want schedules that provide time for family and other fulfillment.

In October we’ll celebrate 50 WOW franchisors who make a difference with their brands and create opportunities for other women. Sometimes their market niche directly helps women, perhaps stay-at-home moms, and sometimes WOW franchisors set examples by inspiring others to leap into entrepreneurship. And WOW franchisors always help other women in business.

If you know a WOW franchisor or are one yourself, we’d like to spread the word. Please fill out the nomination form (www.franchisedictionarymagazine.com/50- women-of-wonder/) to start the process.

—Mary Vinnedge